Statistics on Top/Bottom Reversals ?
Is there any statistical data on the ratio of successful reversals for single, double, triple etc tops/bottoms for different pairs?
I heard the average ratio of success for single top/bottom reversal is about 35 %. I guess it is also time frame dependant.
EUR/AUD is approaching fortriple (I am not sure if there is such a word, but you know what I mean :-) bottom... possibly a big chance for a substantial reversal.
Hi manul, there is a great book that focuses on this kind of thing by Thomas N. Bulkowski called Getting Started in Chart Patterns, which I have, another of his is the Encyclopedia of Chart Patterns, both of which go into very in-depth statistical analysis of all kinds of patterns. In terms of double and triple tops here is what it says, I hesitate to put more due to copyright ....
Thanks a lot, Akuma.
Will try to find this book.
Could you please explain the difference between pullback vs reversal and failure vs decline ?
Also not sure about the meaning of "predicted price target".
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